New owners acquire Mission Hills Shopping Center in Naples area

Slate Grocery REIT has acquired Mission Hills Shopping Center on the northwest corner of Collier Boulevard and Vanderbilt Beach Road in North Naples. The sale was announced March 9 by JLL Capital Markets, the firm that represented seller Phillips Edison & Company Inc. in brokering the deal. The 85,078-square-foot neighborhood center, anchored by Winn-Dixie, is fully leased. The acquisition is the 12th in Florida, for Slate Grocery REIT, a Toronto-based owner and operator of U.S. grocery-anchored real estate. Completed in 2005, Mission Hills was renovated in 2018 and features a full lineup of 17 service-oriented tenants on 18.8 acres at 7550 Mission Hills Drive.